Bitcoin traded under pressure after testing EMA377, marking a pause in its ascent toward the $94,400 level. The move on January 14 came as BTC encountered resistance at EMA377, halting a brief uptrend. Traders will be watching whether Bitcoin can clear EMA377 to reaffirm the uptrend or retreat toward key supports. If the price can break above EMA377, the $94,400 area becomes a likely target, aligning with a renewed bullish thesis.
Conversely, renewed selling interest could see downside tests emerge, potentially delaying the next leg higher. Bitcoin faced renewed pressure after testing EMA377, pausing its ascent toward the $94,400 level. The January 14 move showed resistance at EMA377, curbing a brief uptrend and leaving traders awaiting a decisive breakout. A clear push above EMA377 would underscore the bullish thesis and target the $94,400 area.
If buyers fail to clear EMA377, renewed selling interest could drive downside tests and delay the next leg higher as traders reassess momentum. A breakout above EMA377 would align with a renewed bullish narrative, while failure to clear could shift focus to nearby support zones. Market participants will monitor momentum, liquidity, and risk controls as the price approaches the EMA377 threshold. The next directional cue hinges on whether demand can sustain a breakout toward $94,400 or if sellers reassert control near key supports.
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